Huobi Pro to Leave Japan

Currently 13.3 percent of the visitors on Huobi Pro come from Japan
27 June 2018   1236

The Huobi Pro cryptocurrency exchange will suspend the service of Japanese investors in next month. This is written by Coindesk.

According to his information, the corresponding announcement was made in an e-mail, which was received by investors from Japan on Wednesday. It says that they will not be able to use the services of the exchange to exchange cryptocurrency since July 2.

In response to a request from CoinDesk, the Huobi Pro exchange confirmed this information, but did not specify how the procedure for the withdrawal of assets of Japanese traders would be organized.

Huobi Pro's decision to leave Japan is due to the fact that the company is not registered with the Financial Services Agency, which since the beginning of the year has significantly strengthened control over local sites for the exchange of cryptocurrencies. Whether the company received any notifications from the regulator is not known.

Earlier this year, Huobi Pro announced that it had entered into an agreement with SBI Virtual Currency, a licensed exchange unit of the Japanese financial conglomerate SBI Holdings. It was planned that both companies would open a joint exchange in Japan, but in March SBI Virtual Currency announced a break in relations.

According to the Alexa portal, about 13% of visitors to Huobi Pro live in Japan.

Huobi to Launch Argentinian Branch

Argentina is undergoing the financial crisis right now and head of the new branch believes there's a consensus been reached on the rejection of local currency
18 September 2019   260

Huobi Group has continued to expand its network of local cryptocurrency exchanges based on the Huobi Cloud platform, launching a trading platform in Argentina.

Huobi Argentina plans to create a local team and fiat gateway to trade or convert Argentine pesos into cryptocurrencies, the company said in a statement.

The payment channel will be launched by mid-October. It is assumed that users of Huobi Argentina will be able to make deposits using bank cards, transfers and through the most common digital payment systems in the region. Currently, you can purchase cryptocurrencies for pesos through the Huobi OTC service.

The opening of the Huobi cryptocurrency exchange in Argentina came at a time when the economy of this second largest country in Latin America was in a deep crisis. This year alone, inflation reached 55%, and President Mauricio Macri recently introduced new restrictions on access to foreign currencies.

According to Carlos Banfi, head of Huobi Argentina, a consensus has already been reached in Argentina on the rejection of local currency and banking services.

The increasing demand for crypto-related products and services makes Argentina a perfect entry point for Huobi to pursue larger projects in promoting cryptocurrency and blockchain to the market. With the launch of Huobi Argentina, we will be able to first offer local user the opportunity to trade with Huobi’s proven security, liquidity, and stability.

David Chen
Senior Business Director, Huobi Cloud

Earlier, the Huobi Group announced plans to expand its operations in emerging markets and open 150 sites under the Huobi Cloud program. Since the launch of Huobi Cloud in 2018, more than 120 trading platforms have been created on its basis, including in Thailand, Turkey, Indonesia and Russia.